Open Insurance

Open Insurance provides embedded finance technology for the global insurance industry, operating across Australia, New Zealand, and the UK. The company was established in Sydney, Australia, in June 2016 by British expatriates Jason Wilby and Jonathan Buck, who both serve as Co-CEOs. Their background in management consulting, with a focus on retail banking and insurance, led them to identify a significant underinvestment in technology within the insurance sector. Recognizing that insurance is fundamentally an information business, they aimed to solve issues related to customer experience, back-office processes, and rising costs. To deeply understand the industry's complexities, they first built and launched their own direct-to-consumer insurance brand, Huddle.

The firm's core business revolves around a B2B2C model, offering white-label car, home, and travel insurance products that other businesses can embed directly into their own digital platforms and customer journeys. Clients include major brands in telecommunications, energy, travel, banking, automotive, and retail, such as Bupa, Telstra, and Polestar. Open's business model allows these partners to offer insurance to their customer base, creating new revenue streams for them while Open gains access to new markets. The company manages the entire insurance lifecycle, from quotes and sales to claims and analytics, generating revenue through these partnerships.

The company’s primary offering is a proprietary, end-to-end technology stack that functions as an all-in-one solution for its partners. This platform is powered by artificial intelligence and machine learning, enabling rapid and automated decisions on pricing and claims processing. A key feature is its use of powerful APIs and SDKs, which allow for quick and simple integration of insurance products into a partner's app or website, often in a matter of weeks. For end-customers, this results in a streamlined experience, such as receiving faster, personalized quotes and, in some cases, obtaining a decision on a car insurance claim in seconds. For its business clients, Open provides data-driven insights and analytics to identify value in their customer bases and support marketing strategies. As a certified B Corporation since April 2017, the company is committed to benefiting all stakeholders.

Keywords: embedded insurance, insurtech, white-label insurance, API-based insurance, insurance technology platform, car insurance, home insurance, travel insurance, B2B2C insurance, digital insurance, claims automation, insurance infrastructure, affinity programs, data-driven insurance, financial services technology, Jason Wilby, Jonathan Buck, Bupa insurance partner, Telstra insurance partner, Polestar insurance partner, Huddle Insurance, OpenIntel